Kitting Out Your First Brick-and-Mortar Store

Making the move into a brick-and-mortar store is a fantastic achievement but it requires a lot of thought. You can’t just move into a space, put your name on the door and hope that’s enough to tempt people in. You need to think about how your brand can come across in a physical location.

Just as you should take care to organize and brand your website to suit your customers, you must do the same with your bricks-and-mortar store. The experience of shopping online and in store should mesh together neatly so that customers take as much joy from coming to visit you in-store as they would shopping from their sofa.

Floors and Walls

Though floors and walls might not seem like the most important part of your store, they form a critical foundation to build from. Once you have put up your shelves and filled up with your wares, you aren’t going to get another chance at doing these areas so you must do them first.

Think about all the shops you have been in recently and what the floor was like. Perhaps it was a simple vinyl or maybe varnished wooden boards. Epoxy floor coatings are a popular choice as they are easy to maintain and can be finished nicely. As you imagine the floors you have seen, which ones stand out and attach themselves to the brand? Was the floor a distraction or did it blend in with the rest of the interior design?

Your walls should be approached in a similar way. Bare bricks are having a moment right now but there is nothing wrong with painted plasterboard if you want a cleaner look. Consider adding your brand colors to feature walls and areas you want to highlight so your customers know immediately where they are.

Shelves and Displays

How you display your wares is a crucial factor in ensuring that your customers get the right impression of your store. Though gondola shelving is a really popular method in supermarkets, if you are feeling more creative and your shop is a little more niche, you must think outside the box.

Any business can learn a lot from the styling techniques used in boutique clothes shops. These shops are reliant on their customers picking things up, feeling the materials and immediately spotting a complimentary item nearby. Whether you are selling soaps or books, or comic book paraphernalia, this sense of flow is vital to keep people moving around your shop and exploring every nook.

Whether you are kitting out your home or your store, the lighting you use has a massive impact on the rest of your design. While you must ensure that your customers can see what they are doing and the products around them, you can make use of light and shade to draw their attention to different things. Be smart with your lighting and you will see better results.

Kitting out your first shop is about recognizing the ways that your online experience can translate into the real world. Giving your customers a seamless way to transition between shopping modes is a great way to draw them in and persuade them to come back again and again.

How Digital Transformation is Shaping Industries

Nowadays, we live in a primarily digital world. Almost everything has transferred online or became digitized these days. The fact of the matter is that technological innovations and advancements are disrupting industries left and right. Simply put, modern technology is forcing industries to take on a new approach, in order to remain relevant in the market, as well as remain efficient. However, technology isn’t the only reason industries must consider a digital approach.

As a matter of fact, it’s the consumers and their purchasing habits and behavior, as well as their tendency to follow the latest trends that also forces industries to adapt. If you don’t adapt, in order to meet consumer expectations and needs, your competitors will most definitely outrun you. Companies across various industries must simply develop a more consumer-centric solution, in order to continue providing a seamless customer experience. That being said, here are a few ways how digital transformation is shaping industries.

Chasing a competitive advantage

Newest innovations on the market are always regarded by companies as an opportunity to outrun competitors. The main reason so many companies across various industries are prioritizing digitalization is that it may allow them to gain a competitive advantage. It only takes a single business to disrupt an entire industry and drastically change the rules simply by adopting a new technology or developing a new approach.

That’s why most companies are in one way or another prioritizing digitalization. As a matter of fact, 47% of company CEOs stated that they are being pushed towards adopting a digital approach for their business by their board of directors while 56% stated that their business digitalization efforts are already increasing company profits. In essence, while some companies are considering digitalization others are already implementing new strategies and approaches. In other words, the digital transformation is bound to happen across various industries sooner or later.

Improving efficiency

The fact that every industry is about to experience a digital transformation is evident. Even the industries that are less likely to consider digitalization, such as oil and gas sector are in fact, doing so. Resource exploration industry has so far avoided digitalization but even they have to adapt to modern trends and innovations. The main reason is that a digital approach enables the oil and gas sector to improve efficiency, reduce operational costs and streamline entire processes, among other things.

That being said, oil extraction professionals that are keeping up with the latest technology have implemented an ecommerce solution. As a matter of fact, reliable oilfield equipment zone essentials can be easily bought and acquired online, thus reducing the downtime and maintenance costs for mission-critical equipment on the field. Not only that but artificial intelligence and automation are also making their way into the resource exploration industry, helping operators streamline the processes of detection and exploitation of natural resources.

Meeting consumer demands

As mentioned before, consumer habits are oftentimes one of the main reasons why industries and companies develop a new approach. After all, if you’re not relevant to your customers you will lose a battle to your competitors. Consumer demand for increased and improved connectivity, as well as their increasing interest in smart devices and IoT (Internet of Things), has already made an impact on various businesses ranging from retail to ecommerce and so on. These demands have made their way even to the automotive industry.

Nowadays, one of the rising trends in this industry is self-driving and highly connected vehicles. Therefore, the cars of the future won’t be able to fly anytime soon but they will surely be able to drive themselves. Vehicle manufacturers and sales dealerships are also adopting a digital approach for their consumers. As a matter of fact, 75% of consumers who are interested in buying a vehicle will conduct their research online. Moreover, a digital approach in the automotive industry is also there to serve new consumer needs, especially since 56% of millennials would rather avoid interacting with salespeople in person.

Reshaping the logistics

The distribution and logistics industry is also experiencing vast changes due to the digital transformation. Logistics and distribution providers are practically being forced to adopt a new approach because their clients are doing so as well. For example, retail and ecommerce sectors are leveraging the newest technology to its fullest potential, thus making numerous promises to their customers, such as next-day or even same-day delivery, in order to boost customer experience. Also, manufacturers in the automotive industry want materials delivered at the right time for production, in order to avoid having to store materials around.

These demands force distribution and logistics providers to step up their game and deliver on their clients’ expectations. Even though logistic providers aren’t part of major brands per se, they still feel responsible for representing those brands through their services. Therefore, as manufacturers and retailers implement their digital approaches, distribution and logistics providers must become an extension of their clients’ brands, in order to remain competitive and relevant.

The world is already reshaped by the digital era and it continues to be transformed. As technology continues to advance, the increasing need for new solutions challenges various industries. Even the industries that are reluctant to transform will eventually have to do so. That is if they wish to remain successful and competitive in the market.

Guest author, Raul Harman, is a B.Sc. in Innovative entrepreneurship and has a lot to say about innovations in all aspects of digital technology and online marketing. While he’s not enjoying football and great food, you can find him on Technivorz.com

Why You Need to Use Behavioral Segmentation

How do you current and potential customers find you? That is the conundrum for every company in today’s day and age. Unfortunately, it’s not enough to have a location, or to have a location that’s close to others who might add synergy to your business’s stability.

And while technology might seem like it would be an easy way to garner a wider, more solid core of customers, in fact websites and email aren’t enough either. Add to the mix social media (and the realization that one site isn’t enough either) and you’ve got a very confusing mix of how to reach people.

 But luckily, data has given us some insights into what we do need to know about our customers—not just where they live but what their lives look like and how their internal lives work, too. So how do you segment what you know and what you need to know? This graphic explains it.

Why You Need to Use Behavioral Segmentation

Tackling Your Business’s Waste Problem

With increasing regulations and a growing awareness amongst consumers, every business owner has to seriously consider the environmental impact their work has. In particular, waste is still a significant issue, but one that you can help to decrease dramatically. Here, we’re going to look at some of the greatest sources of waste in all businesses and what you can do to lessen your impact at least a little.

Paper

Paper isn’t being treated as the completely expendable commodity that it once was. This is thanks, in large part, to the growing reliance on IT. More and more businesses are turning to a paperless or near paperless model. By relying more on digital storage and backups, you can reduce the amount of paper your business uses dramatically. Not only does this cut on the costs of buying paper itself, it also saves in terms of printing costs and the storage space necessary to keep all that paper, too.

Power

Many businesses use more electricity than necessary. From vampire electricity wasted by leaving devices on standby to relying on old equipment that is far from energy efficient, you could be driving your power bills sky high. An energy audit service can help you easily see where exactly you’re using the most energy and what to do about it. Investing in question like a genset can help you cut costs, too. Many utility providers are willing to offer discounts on energy, for instance, if companies are willing to use their own genset to supplement their reliance on utilities.

Water

Water-saving faucets and toilets can drastically reduce the amount of water wasted by employees in every bathroom. However, water waste isn’t just about how much water your business uses, but how clean it is when disposed. From businesses with fleets to warehouses and construction crews, water contamination is a serious problem. Oil water separators are more than just an ethical choice, they could be an essential part of making your business compliant with environmental regulations, depending on the industry you’re in. As the business grows, make sure that you’re getting rid of waste water in the cleanest way possible.

Packaging

If you’re in retail, manufacturing, or production of any kind, consider the packaging you offer. Regular product packaging is one of the most widespread sources of plastic and paper waste, but there are eco-friendly packaging options available. You can make it much easier for your customers to recycle or reuse your products. Not only will this help tackle your ecological footprint, but it’s a very visible sign of your company’s dedication to environmentally friendly operation methods. It can be as much a part of the brand, helping to win the goodwill of your consumers.

It’s reasonable to expect that businesses will be legally required to produce less waste as time goes on. Even now, consumers are becoming more mindful of who they support and producing lots of waste can be bad for your image as far as they are concerned. Keep the tips above in mind, as it’s only going to become more important.

Is Your Business Giving Consumers Their Best Buys?

Interest & Risk ResizeLook…there’s no easy way to put it…as of October 2015, the United States economy is still in a state of flux.

While news reports tout record levels of the stock market, the truth is that the average American consumer is still squeezed to the limit and business owners are still scratching their heads while trying to figure out how to fix things.

The good news?

If your business is willing to take a short-term financial hit, it may just come out on top.

Giving Consumers Deals They Can’t Refuse

In a stable economy, providing deals, whether through coupons, online incentives, or previous-customer discounts might work best, but these days, business owners will need to go above and beyond to win a customer’s business.

The reason? Consumers are still fearful of spending funds and many are concentrating on saving and investing with any discretionary money.

It’s true that some wealthy Americans are able to spend at will, but these consumers are few and far between right now. The middle class, or most of America, is having a hard time paying bills, let alone buying things.

This is where providing special deal options come in.

How Used Car Prices Are a Demonstration

Due to the continuing financial stress that many middle-class Americans are feeling, used cars seem like a better deal than purchasing new, but used car prices have been rising for years.

In the article, “Used Cars Prices Expected to Finally Drop,” the author points out that several factors have caused an expected drop in used car prices.

First, the supply of used cars may begin soon as lease vehicles are beginning to be turned in.

Next, trade-in values are on the rise, so if you’re considering purchasing a new or used vehicle, now is the time to do so.

Remember, as inventory climbs, trade-in values will drop, so if the aforementioned lease vehicle trend continues, your trade may be worth less.

In a nutshell, dealerships are in the perfect position to offer great deals by working with economic factors and consumer wallets.

Take a Thorough Current and Future Inventory

In order to offer consumer deals at a temporary cost, take a current and expected inventory of products, revenue forecasts, growth potential, expenses, and anything else involving cash flow.

These figures can provide your company with an average profit margin that is acceptable when discounting products and services.

Keep in mind that these figures will need to be analyzed and adjusted regularly until the economy becomes normalized so that you don’t continue to provide unnecessary discounts in the future.

About the Author: Andrew Rusnak is an author who writes on topics that include economics and business development.